18th May 2015 16:50
News Release
Guernsey, 18 May 2015
Princess announces dividend payment and publishes first quarter 2015 report
The Board of Directors of Princess Private Equity Holding Limited (Princess or the
Company) is pleased to announce a first interim dividend of EUR 0.27 per share for the 2015 calendar year. This translates into a dividend yield of 5.9% on the net asset value
(NAV) per share as of 31 March 2015 and a yield of 6.7% on the share price, based on the first interim dividend of 2015 and the second interim dividend of 2014, as well as
30 April's closing price on the London Stock Exchange.
The first interim dividend for the year will be paid on 19 June 2015. The relevant date for the entitlement to the dividend (record date) will be 29 May 2015 and the corresponding ex-dividend date will be 28 May 2015. The Company intends to pay dividends semiannually following the publication of the quarterly reports as of 31 March and 30 September.
In addition, Princess today published its first quarter report for the period ended 31
March 2015. The key items were:
n The NAV of Princess increased by 6.3% to EUR 9.12 per share.
n Partners Group's focus on value creation continues to foster strong revenue and EBITDA growth and healthy capital structures at portfolio company level. Consequently, positive valuation developments (+4.3%) were responsible for the bulk of NAV growth.
n Amongst others, the largest contributors to Princess' NAV growth over the reporting period were the direct investments in Action, VAT Vakuumventile AG and Grupo SBF.
n Over the reporting period, Partners Group as Investment Advisor acquired Dynacast, a global manufacturer of small, highly complex metal components. Princess' investment in the company amounts to EUR 21.1 million.
n Overall, the total investment activity amounted to EUR 34.3 million with the investment level increasing to 92.0% of NAV, from 85.9% at the start of the year.
n Distribution proceeds to Princess from exited investments totaled EUR 21.9 million for the first quarter of 2015, compared to EUR 11.4 million in the corresponding period last year.
Brian Human, Chairman, comments: "It is encouraging to see that the Princess portfolio has made a favorable start to the year. Partners Group's focus on value creation continues to have a constructive impact and has contributed to the strong performance of underlying portfolio companies, which has fed through to the NAV. We are confident that the Company's dividend yield and strong NAV growth will appeal to new and existing investors alike."
Detailed analysis and commentary on the developments and performance of Princess' portfolio over the first three months of 2015 will be presented in a quarterly report published today. The report can be accessed via:
http://www.princessprivateequity.net/financialreports
A copy of the above document has been submitted to the National Storage Mechanism and will shortly be available for inspection at: http://www.Hemscott.com/nsm.do
Ends.
About Princess
Princess is an investment holding company founded in 1999 and domiciled in Guernsey. It invests, inter alia, in private equity and private debt investments. Princess is advised in its investment activities by Partners Group AG, a global private markets investment management firm with over EUR 37 billion (over USD 40 billion) in investment programs under management in private equity, private debt, private real estate and private infrastructure. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the London Stock Exchange (ticker symbol: PEY). Further information: www.princess-privateequity.net.
Contacts
Princess Private Equity Holding Limited:
www.princess-privateequity.net
Registered Number: 35241
Investor relations contact
George Crowe
Phone: +44 (0)20 7575 2771
E-mail: [email protected]
Media relations contact
Partners Group AG
Jenny Blinch
Phone: +41 41 784 65 26
E-mail: [email protected]
www.partnersgroup.com
This document does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities and neither is it intended to be an investment advertisement or sales instrument of Princess. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about, and observe any such restrictions on the distribution of this document. In particular, this document and the information contained therein is not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.
This document may have been prepared using financial information contained in the books and records of the product described herein as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This document may describe past performance, which may not be indicative of future results. No liability is accepted for any actions taken on the basis of the information provided in this document. Neither the contents of Princess' website nor the contents of any website accessible from hyperlinks on Princess' website (or any other website) is incorporated into, or forms part of, this announcement.
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